MR BUFFETT TO THE RESCUE (SORT OF)

MLPS CONTINUE ON A SLOW REPAIR ROAD

News this morning that Warren Buffett has offered a solution to the monoline insurers (not that they will necessarily allow themselves to be rescued) has sent stock futures soaring higher this morning. The market has felt like its been trying to put in a tradeable bottom. MLPS meanwhile had a good day overall yesterday closing at just under 298. There were some nice moves yesterday in Oneok LP (OKS) which was up 1.75 and Inergy Holdings (NRGP) was also up 1 and a major fraction.



Still there is the unholy trinity of Linn, Constellation and Eagle Rock which continue to go down day after day although yesterday the losses were relatively small fractions.

This morning we have earnings from Energy Transfer (ETP ETE) Partners and Energy Transfer Equity. Record results here. Also earning from Enterprise Products Holdings (EPE) which are lower. No other headlines this morning and no upgrades or downgrades.

So it looks like we should see an assault on 300 today and the question will be whether we can get above it and stay there.